Having come from a lengthy background in finance before entering politics, I’ve sadly become all too familiar with online scams and how anyone can easily fall victim from just a simple online transaction.
That is why this week for my column, I wanted to create a bit of a Community Service Announcement to raise more awareness for those more common scams and how we all need to stay even more aware.
Now, not all of us use the internet for our banking, but it’s a proven fact that using the internet is becoming more of a common theme when dealing with our money.
Because it’s quick, easy and takes a lot less time. People use it to pay bills, pay each other and even get paid direct from their employer.
Let’s talk about one of the more recent scams involving Pay ID.
This is a relatively new payment method, and it has become very popular.
Why?
Because it is quick, safe and simple.
It is also a free service and doesn’t require a subscription meaning if you’ve got a bank account you would have this.
Pay ID scams have risen rapidly this year where scammers are simply targeting users through online purchases such as Gumtree, Facebook Marketplace and similar websites that involve buying or selling.
The scammers push for you to buy your item using Pay ID, but then claim the transaction couldn’t be completed because you don’t have a Pay ID business account.
The scammer will then claim they have sent you extra money for an account upgrade.
This will be followed by a fake e-mail as evidence with continued pressure for you to reimburse them with the funds that they are clearly not theirs to start.
Remember, the biggest red flag of any Pay ID-related scam is when someone asks you for money to upgrade your account or money to access your Pay ID account.
Remember, there are never any charges to use your Pay ID, regardless of the circumstances. Pay ID is a free service through your bank.
If you believe someone has attempted to defraud you, you can report them to Scam Watch by heading to ScamWatch.gov.au. Click the ‘Report a Scam’ Page and follow the prompts to submit your report.
